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Search results for: Income tax Act

Notices to Businesses Regarding GST Audit

GST Audit Era Begins; Govt Sent Notices to Businesses Across Country

The department under GST is finally extending notices to on business whose accounts are required to get audited as per the norms. Cordial notices are being sent by the government to businesses for the first year of GST (2017-18). There are three basic kinds of audits under GST, the first one focuses on the business […]

No ITC to Exporters

GST Department Freezes ITC for So-called Risky Exporters

The total of 245 Star Export Houses and 5,000 other exporters went alienated from claiming their shares of Input Tax Credit (ITC) from the government due to taxman’s heavy investigations. On the other hand, amidst the existing exports decline, merchandise exports declined by 0.34% year-on-year in November consistently for the fifth time in the past […]

CBIC Enhanced the Reach and Use of DIN

CBIC Enhanced Reach & Use of DIN (Director Identification Number)

Director Identification Number (DIN) has was introduced in India with the Companies Amendment Act, 2006. DIN Number is an 8 digit unique number that is required for any existing or proposed Director of a Company. Recently the Central Board of Indirect Taxes and Customs ( CBIC ) has enhanced the reach and use of Director […]

GST Relief Under Insolvency and Bankruptcy Code

Govt. Planning to Provide GST Relief to Companies Under IBC Process

As per the recent update, the government is planning a beneficial step for companies undergoing resolution process under the IBC. IBC is an acronym for Insolvency and Bankruptcy Code. There is some talk going on between the Ministry of Corporate Affairs and Department of Revenue (DoR) and a framework is expected to be revealed soon. […]

Food Companies Asks Lesser GST Rates

Food Companies Under AIFPA Asks Lesser GST Rates in Council Meet

The All India Food Processors’ Association (AIFPA) in a letter to FM appealed against the higher existing rates of processed foods. The processed unbranded food falls under the slab of 5% whereas their branded peers fall under 12%. The companies are putting up their concern for setting up a wrong trend in the market which […]

DIR 3 KYC Form Due Date & Penalty

All About MCA DIR 3 KYC Form with Due Date and Penalty

Director identification number (DIN) refers to a unique identification number allotted to an individual who is willing to be a director or is an existing director of a company. DIN is obtained by filing an application in eForm DIR-3, which was initially a single-time process to be carried out by the one who wishes to […]

IGST Refund Claim Pending

Reason Out! Why More Than 50,000 IGST Refund Claim Still Pending?

An overwhelming number of integrated GST (IGST) claims are currently pending for the refund for more than a year due to pending documents required to be submitted by the taxpayer. Minister of State for Finance Anurag Singh Thakur stated that around 52,720 IGST refund claims Know how to file GST refund claims manually by using […]

CBDT Terminates 21 IT Officers

CBDT Terminates 21 IT Officers On Charge of Corruption & Bribery

On the government’s order, 21 income tax officers have been compelled to retire under Fundamental Rule 56(j), as the officials incriminated of extortion and other malfeasance acts. Under Fundamental Rule 56(j), government officials can be mandatorily retired in public interest on notice of not less than three months. These officers have been forced to retire […]

Digital Signature Certificate Under GST

All About DSC (Digital Signature Certificate) Under GST

In this article, we will discuss the Digital signature certificate which is an encrypted and secure way of acknowledging the certificate holder. Also, DSC under GST is an important term that is used in each and every form for the identification of the taxpayer. Here we will also go through the GST DSC utility and […]

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